This program uses a written verification of employment (WVOE) to document income, making it ideal for union workers or wage earners with variable compensation. Paystubs, W-2s, and tax returns are not required, but a two-year history in the same line of work is necessary.
This program provides financing for borrowers who can provide standard income documentation, such as W-2s and tax returns for the most recent one or two years. It is available to both wage-earning and self-employed borrowers.
A program for borrowers who have been self-employed for a minimum of 12 months, which follows a full year of W-2 employment in the same profession. Income is documented using the most recent 12 months of bank statements and the previous full year W-2.
This program is for non-conforming Non-QM loans, offering fixed-rate, interest-only, and adjustable-rate options. The seller guide outlines specific net worth and approval requirements for correspondents participating in both delegated and non-delegated underwriting for these products.
This program covers FHA-insured mortgages, including fixed and adjustable-rate options. The guide specifies that sellers must be fully approved by the FHA for 'direct endorsement' and that all loans must be underwritten according to FHA guidelines, incorporating all its representations and warranties.
A full documentation program for Closed End Second mortgages requiring two years of income documentation like W2s and tax returns. This program is restricted to standalone close transactions only and has specific limitations for 2-4 unit properties.
This program allows a borrower's liquid assets to be used to augment income for qualification or to qualify entirely. It can be blended with full-doc or self-employment income, or used as 100% of the income, with qualification based on dividing net eligible assets by 60 months.
The Jumbo One Advantage program offers a variety of fixed and adjustable rate mortgages, including interest-only options, for primary residences, second homes, and investment properties. It features specific LTV/CLTV limits and requires compliance with AUS guidelines for eligibility and underwriting.
The Freddie Mac Standard Conforming program offers fixed and adjustable rate mortgages for primary residences, second homes, and investment properties. It includes specific LTV/CLTV/HCLTV limits and requires full appraisals for loans with ACE+ PDR waivers.
The Freddie Mac Home Possible program offers fixed and adjustable rate mortgages with high LTV ratios for low-to-moderate income borrowers. It includes specific eligibility criteria and requires full appraisals for loans with ACE+ PDR waivers.
The Freddie Mac HomeOne program provides fixed rate mortgages with high LTV ratios for first-time homebuyers. It includes specific eligibility criteria and requires full appraisals for loans with ACE+ PDR waivers.
The Fannie Mae HomeReady program offers fixed and adjustable rate mortgages with high LTV ratios for low-to-moderate income borrowers. It includes specific eligibility criteria and requires full appraisals for loans with ACE+ PDR waivers.
The MaxONE program is designed to increase homeownership opportunities for low-to-moderate income individuals and families, offering a 2nd lien with a zero percent note rate and a forgivable option after 10 years. It allows for a maximum CLTV of 100% with a 3.5% down payment assistance.
The MaxONE Plus program offers a 2nd lien with an interest rate equal to the first lien rate plus 2%, designed for low-to-moderate income individuals and families. It allows for a maximum CLTV of 100% with a 3.5% down payment assistance.
The VA IRRRL Program offers streamline refinance options for existing VA loans with specific overlays and guidelines. It requires compliance with VA lender handbook and specific credit, income, and property eligibility criteria.
The MaxONE Home Assist program provides a 2nd lien with an interest rate equal to the first lien rate plus 2%, offering a maximum CLTV of 101.5% with a 5.0% down payment assistance. It is aimed at increasing homeownership for low-to-moderate income families.
The Freddie Mac Super Conforming program provides fixed and adjustable rate mortgages for higher loan amounts, suitable for primary residences, second homes, and investment properties. It includes specific LTV/CLTV/HCLTV limits and requires full appraisals for loans with ACE+ PDR waivers.
The FHA Purchase program offers loans for purchasing primary residences with specific overlays and guidelines, including options for different property types and compliance with FHA guidelines and overlays.
The FHA Refinance program provides options for refinancing existing FHA loans with specific overlays and guidelines, including cash-out and no cash-out refinance options.
The FHA Streamline program offers refinance options for existing FHA loans with reduced documentation and no appraisal requirements, including specific overlays for credit and non-credit qualifying loans.
The Core NonQM program offers loan options with varying LTV/CLTV based on credit score, loan amount, and occupancy. It includes options for fixed-rate mortgages and interest-only options, with specific guidelines for reserves, credit events, and DTI.
The Core DSCR program is designed for non-owner occupied investment properties with 1-4 units and requires a minimum DSCR of 1.0. Loan options are based on credit score and LTV/CLTV, with specific guidelines for condos and reserves. This program requires a minimum loan amount of $250,000.
The Select DSCR program is designed for non-owner occupied investment properties with 1-4 units. It requires a minimum DSCR of 1.25 and offers loan options based on credit score and LTV/CLTV, with specific guidelines for condos, interest-only options, and reserves.
The Jumbo One Select program offers fixed and adjustable rate mortgages with high LTV ratios for low-to-moderate income borrowers. It includes specific eligibility criteria and requires full appraisals for loans with ACE+ PDR waivers.
The Select NonQM program offers loan options with varying LTV/CLTV based on credit score, loan amount, and occupancy. It includes options for fixed-rate mortgages and interest-only options, with specific guidelines for appraisals, cash-in-hand limits, and debt consolidation.
The Sub1 DSCR program is designed for non-owner occupied investment properties with 1-4 units and a DSCR of less than 1.0. It offers loan options based on credit score and LTV/CLTV, with specific guidelines for condos, interest-only options, and reserves.
The Closed End & Concurrent Second Mortgages program offers fixed-term loans fully disbursed at closing with no draw feature. It is eligible as a second lien only and must be subordinate to an eligible first mortgage loan, with specific qualifying criteria and compliance requirements.
A 30-year fixed-rate mortgage program available under the Jumbo ONE Select Matrix for purchase, rate/term refinance, and cash-out refinance transactions. This manually underwritten loan requires a minimum FICO score of 680 and follows specific LTV limits based on loan amount and credit score.
A 30-year fixed-rate mortgage program under the Jumbo ONE Premier matrix. It is available for purchase and refinance transactions on primary residences, second homes, and investment properties, with underwriting based on DU Approve or LPA Accept recommendations.
A 15-year fixed-rate mortgage program available under the manually underwritten Jumbo ONE Select matrix. The program is available for various transaction types and has LTV/CLTV limits that vary by loan amount and credit score, with a minimum FICO of 680.
A 10/6 Adjustable-Rate Mortgage (ARM) program under the Jumbo ONE Premier matrix. The initial fixed rate period is 10 years, and it is indexed to the 30-day average SOFR with a 2.75% margin. The program has initial, subsequent, and lifetime interest rate caps.
The Fannie Mae Standard Conforming program offers fixed and adjustable rate mortgages for primary residences, second homes, and investment properties. It includes specific LTV/CLTV/HCLTV limits and requires full appraisals for loans with ACE+ PDR waivers.
A 15-year fixed-rate mortgage program available under the Jumbo ONE Premier matrix. It is available for purchase and refinance transactions across various occupancies with LTV/CLTV limits that vary by loan amount and credit score, requiring a minimum FICO of 660.
A 30-year fixed-rate mortgage featuring a 2-1 temporary buydown option. This loan is available for purchase transactions only on 1-unit primary residences and second homes, and is not permitted for investment properties.
A 30-year fixed-rate mortgage featuring a 1-0 temporary buydown option. This loan is available exclusively for purchase transactions on 1-unit primary residences and second homes, and is not permitted for investment properties.
The No Ratio DSCR program is for investment properties and does not have a minimum DSCR requirement, making it suitable for properties with a DSCR below 0.75. The minimum loan amount for this program is $100,000.
The VA Loan Program offers loans for veterans with specific overlays and guidelines, including options for purchase and cash-out refinance transactions. It requires compliance with VA lender handbook and specific credit, income, and property eligibility criteria.
The Foreign National DSCR program is specifically designed for foreign national borrowers investing in properties. It requires a minimum DSCR of 1.0 and has a minimum loan amount of $100,000.
The USDA Guaranteed Rural Housing Program offers loans for owner-occupied, principal residences in rural areas, with no maximum loan amount and specific eligibility criteria. It includes options for purchase, rate/term refinance, and streamline refinance, with a maximum LTV/CLTV of 100% for purchase and rate/term refinance, and 105% for streamline refinance.
This program for investment properties features updated maximum cash-in-hand limits. For loans with an LTV between 65% and 75% and a FICO of 700 or greater, the maximum cash-in-hand is now $1.5MM.
The Non-QM Professional program offers a 25 basis point pricing improvement for qualified loans on primary residences. It is designed for practicing doctors and professionals with postgraduate degrees in specific fields, requiring a minimum 680 FICO score.
The DSCR Fusion program is for investment properties and allows borrowers to use asset utilization to meet debt service coverage ratio requirements. It is designed for borrowers with an initial DSCR between 0.75 and 0.99, requiring a final DSCR of at least 1.15 after asset calculation.
The Jumbo One Premier program offers fixed and adjustable rate mortgages for primary residences, second homes, and investment properties, with specific LTV/CLTV/HCLTV limits. It requires full appraisals for loans with ACE+ PDR waivers and follows DU guidelines for underwriting. This program also includes detailed underwriting and documentation requirements, eligibility criteria, and compliance with Fannie Mae Single Selling Guide for silent areas.
This program allows self-employed borrowers with at least 25% ownership to qualify using a 12 or 24-month Profit and Loss (P&L) statement prepared by a licensed professional, supported by three months of bank statements. Qualifying income is based on the net income from the P&L.
The Jumbo One program offers loan options for purchase, rate/term refinance, and cash-out refinance transactions. It features loan terms of 30-year fixed and 10/6 ARM, with maximum LTV and loan amounts varying based on the transaction type. Eligible borrowers include US citizens, permanent residents, and non-permanent residents, with specific guidelines for reserves and property types.
This program is for self-employed borrowers, allowing the use of 12 months of personal or business bank statements to document income instead of tax returns. Income is calculated based on an analysis of deposits and may involve a fixed expense factor.
This program covers non-conforming Jumbo loans, including fixed-rate, interest-only, and adjustable-rate products. This seller guide specifies the eligibility and net worth requirements for correspondents to originate and sell these loans.
This program is for borrowers whose sole source of income is from 1099s for at least two years in the same profession. It uses two years of 1099s and transcripts to validate income, supported by bank statements and a P&L or expense factor letter.